Amdocs (NASDAQ:DOX) Stock Price Crosses Above 200 Day Moving Average - Here's Why

Key Points

• Amdocs shares crossed above their 200-day moving average, reaching $63.12 before closing near $62.83, about 1% higher. The stock’s market capitalization is approximately $6.78 billion.
• Analyst sentiment remains mixed: three analysts rate the stock Buy, three Hold, and one Sell. The consensus rating is Hold, with an average price target of $86.67.
• Amdocs reported quarterly EPS of $1.84, matching estimates, while revenue rose 2.7% year over year to $1.17 billion. The company also paid a quarterly dividend of $0.569, equivalent to a 3.6% annualized yield, and institutional investors own 92.02% of its shares.

Amdocs Limited (NASDAQ:DOX - Get Free Report)'s stock price passed above its two hundred day moving average during trading on Friday. The stock has a two hundred day moving average of $62.79 and traded as high as $63.12. Amdocs shares last traded at $62.83, with a volume of 898,469 shares.

Analysts Set New Price Targets

Several brokerages have commented on DOX. Wall Street Zen raised shares of Amdocs from a "hold" rating to a "buy" rating in a research report on Saturday, August 29th. Weiss Ratings upgraded shares of Amdocs from a "sell (d+)" rating to a "hold (c-)" rating in a report on Friday, October 23rd. Three equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $86.67.

Amdocs Stock Up 1.0%

The firm has a market capitalization of $6.78 billion, a P/E ratio of 14.96, a price-to-earnings-growth ratio of 0.99 and a beta of 0.44. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.94 and a quick ratio of 0.94. The stock has a fifty day moving average of $60.60 and a 200 day moving average of $62.79.

Amdocs (NASDAQ:DOX - Get Free Report) last posted its quarterly earnings data on Thursday, August 6th. The technology company reported $1.84 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $1.84. The business had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.18 billion. Amdocs had a net margin of 9.75% and a return on equity of 20.28%. The firm's quarterly revenue was up 2.7% compared to the same quarter last year. During the same quarter last year, the company posted $1.72 earnings per share. On average, research analysts anticipate that Amdocs Limited will post 6.57 EPS for the current fiscal year.

Amdocs Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 30th. Investors of record on Wednesday, September 30th were paid a $0.5690 dividend. This represents a $2.28 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date was Wednesday, September 30th. Amdocs's payout ratio is currently 54.29%.

Hedge Funds Weigh In On Amdocs

A number of large investors have recently made changes to their positions in DOX. Alpine Bank Wealth Management grew its position in Amdocs by 58.2% during the third quarter. Alpine Bank Wealth Management now owns 500 shares of the technology company's stock valued at $29,000 after buying an additional 184 shares during the period. Mirae Asset Global Investments Co. Ltd. purchased a new position in Amdocs during the third quarter valued at $57,000. Versant Capital Management Inc increased its holdings in Amdocs by 3,340.6% in the 3rd quarter. Versant Capital Management Inc now owns 1,101 shares of the technology company's stock valued at $63,000 after acquiring an additional 1,069 shares during the last quarter. Farther Finance Advisors LLC boosted its holdings in shares of Amdocs by 16.4% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,292 shares of the technology company's stock valued at $74,000 after purchasing an additional 182 shares during the last quarter. Finally, GAMMA Investing LLC increased its holdings in shares of Amdocs by 65.7% in the second quarter. GAMMA Investing LLC now owns 1,725 shares of the technology company's stock worth $87,000 after purchasing an additional 684 shares during the last quarter. 92.02% of the stock is owned by institutional investors.

About Amdocs

Amdocs Ltd. NASDAQ: DOX is a global provider of software and technology services for communications, media and entertainment companies. Its solutions help service providers manage customer relationships, billing, subscriptions, product offerings and digital experiences across consumer and enterprise markets.

The company's portfolio includes business support systems and operational support systems, cloud-based software, artificial intelligence and automation tools, network and service management platforms, and solutions for media distribution and monetization.

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